Standard Chartered Personal Loan

One of the most popular banks in the country, Standard Chartered offers personal loans at attractive interest rates and relatively low processing fees. The interest rates offered on Standard Chartered personal loans start from just 12%, and the processing fee applicable to the loan is just 1% of the amount borrowed. The maximum amount you can borrow is Rs.30 lakh, and the repayment tenure is quite flexible, ranging from 1 year to 5 years.

Standard Chartered bank, which is India's largest international bank, has been operating here since 1858. Exciting schemes, friendly repayment provisions and competitive interest rates are reasons to apply from Standard Chartered Bank, wherein your personal loan application will be smoothly processed. There is no need for collateral, security or guarantors to be provided for unsecured personal loans from Standard Chartered Bank. Loan top-up facility is also available. On BankBazaar you can check your eligibility for a Standard Chartered personal loan by sharing a few details about yourself and you can also apply online. Continue reading to view more details about this loan.

About Standard Chartered Personal Loan:

Being the largest international bank in India, Standard Chartered (Standard Chartered Bank) has branches spread across to 42 cities in India. The bank has been operative in India since 1858, over 150 years. Standard Chartered offers a wide range services such as personal banking, priority banking, NRI banking, private banking, corporate and SME banking. Under its personal banking, Standard Chartered offers home loans, personal loans, loans against securities etc. Like all other banks in India, Standard Chartered understands the importance of personal loans in your life to fulfil your dreams. Hence, the bank offers personal loans to fulfil your various desires like exploring the world, buying your dream car, getting world class education, organising a grand wedding etc. Standard Chartered Bank provides personal loans at affordable rates. You can get up to Rs.30 lakhs of personal loan to fulfil your aspirations.

Standard Chartered Personal Loan Features:

Standard Chartered personal loan comes with many attractive features which make it the favourite bank of many customers. These features include:

Standard Chartered Personal Loan is available for both salaried and non-salaried individuals.

You can enjoy flexible repayment tenures from 12 months to 60 months.

The bank does not ask for security or guarantor.

Documentation processes are easy and simple.

You can apply online and get instant approval.

Affordable interest rate starting from 12.% onwards.

Standard Chartered offers loan amounts up to Rs.30 lakhs.

Online applicants get a 50% discount on processing fee

Standard Chartered offers personal loans up to Rs.30 lakhs to salaried employees and up to Rs.10 lakhs to the entrepreneurs.

Why choose Standard Chartered Personal Loan?

There are many reasons why Standard Chartered personal loans has become the preferred choice for many to fulfil their requirements. Standard Chartered offers:

Standard Chartered (SC) Bank offers personal loans to meet multiple contingencies, with the interest on these loans being extremely competitive. The final interest payable by an individual is computed on the basis of standard slabs, with MCLR and Base Rate being the most commonly used ones. Changes in these slabs could have an impact on the rate charged by the bank.

All borrowers who avail a personal loan from SC Bank after 01/04/2016 will be charged an interest which is computed on the basis of MCLR. This follows a notification by the RBI, with the benchmark taking operating costs and current financial trends into account while computing the interest.

MCLR Benchmark Tenure (Period)

Benchmark Rates (MCLR)

Overnight

8.45%

1 month

8.75%

3 months

8.95%

6 months

9.15%

1 year

9.25%

2 year

9.35%

3 year

9.45%

Personal loan interest rates (MCLR)

Standard Chartered Bank typically provides personal loans at a starting interest of 11.99% per annum. This means that a certain percentage will be added over and above the current MCLR benchmark, with the final interest determined after taking factors like the quantum of finance, borrower’s relationship with the bank, repayment tenure, etc. into consideration.

Standard Chartered Bank Base Rate (For existing borrowers)

Base Rate

9.50% per annum, effective October 5, 2015

Standard Chartered Bank personal loan interest rate (Base Rate)

Individuals who availed a loan before MCLR benchmarks were introduced can continue with their existing benchmark or migrate to MCLR. Borrowers who choose to continue with the base rate benchmark will be charged an additional interest over and above the current base rate. The final interest depends on a number of factors, with SC Bank having the authority to modify interest on a case to case basis.

Note: All interest rates mentioned above are as of June 15, 2016. These rates are subject to change without prior notice, at the sole discretion of Standard Chartered Bank. Borrowers should check rates prevailing at the time of loan application.

Applying through BankBazaar enables you to enjoy many added benefits. BankBazaar, being the largest online platform for your financial needs, helps you to compare and choose your financial products. You can enjoy the following extra benefits if you apply through BankBazaar.

Instant Approval: You can get instant approval on your loan application if you apply through BankBazaar.

Personalized quotes: You can Compare Personal Loans offered by various banks on BankBazaar and choose among them comparing their interest rates, processing fee and EMI amount.

Assured Confidentiality: BankBazaar does not disclose your personal and financial information to anybody. Your application form directly goes to your chosen lender. There is no third party involved in the whole process.

Best interest rates assured: Having tie-ups with many major banks in India, BankBazaar can offer you the best interest rate on your personal loan.

Online tracking: BankBazaar keeps you updated about each and every step of your application form. You can track it online at BankBazaar and get notification via Email and SMS.

Instead of contacting Standard Chartered personally, you can apply for your Standard Chartered Personal Loan at BankBazaar. Applying through BankBazaar is easy, simple and hassle free. For that, you need to follow the following steps:

First select your personal loan.

Then check your eligibility by filling up the loan eligibility form wherein you need to fill your personal and financial details. Then you will receive instant and personalized quotes based on your eligibility.

Once you get the quotes, select a personal loan based on your requirement, or choose Standard Chartered personal loan. BankBazaar helps you can select among a variety of personal loans offered by various banks.

After finalizing on the loan, click on the “submit” button. Your application will directly go to your lender who will contact you soon.

At BankBazaar Calculating Personal Loan EMI is very easy. It has a unique EMI calculator which enables you to get the accurate amount of your monthly EMI instantly. You can get your EMI amount by filling in the following information:

Chosen loan amount

Loan tenure

Processing fee ( if any)

The applicable rate of interest.

When you put this information in the Personal Loan EMI Calculator, it will immediately display your monthly EMI liability for the loan.

What is the minimum amount of personal loan Standard Chartered offers?

The range of Standard Chartered personal loan starts from Rs.1,00,000 and goes up to Rs.30, 00,000 based on your income, eligibility, and repayment capacity. The minimum amount of loan is Rs.10 lakhs for entrepreneurs.

What is the maximum amount of personal loan Standard Chartered offers?

No. To avail Standard Chartered personal loan, you don’t have to provide any security, collateral or guarantors.

For how long, does Standard Chartered offer personal loan? What is its tenure?

Standard Chartered offers personal loans for long tenures. You can repay the loan over a period of 12 to 60 months. However, loan tenures differ from customer to customer.

How many days does Standard Chartered take to approve a personal loan?

Generally, Standard Chartered takes 4-7 working days to disburse your loan after the receipt of the required documents.

Can I check my Standard Chartered personal loan status online?

Yes, you can check your Standard Chartered Personal Loan status online. If you are applying through BankBazaar, you can check it on BankBazaar’s website.

Where do I get an Standard Chartered personal loan application form?

You can download your application form from the website of Standard Chartered. Also, you can collect it from your nearest branch. However, if you apply through BankBazaar, then the BankBazaar team will do all this on your behalf. You do not have to take the trouble of doing any paperwork.

E-Statement means the electronic version of loan statement. You can view and download it online and get it printed when required.

What do you mean by an EMI?

EMI means equated monthly instalments. You can check your Standard Chartered personal loan EMIs at BankBazaar by using its unique
EMI calculator that will provide you the exact amount instantly.

Do I need to open an account with Standard Chartered to apply for its personal loan?

Opening an account with Standard Chartered is not mandatory to avail a personal loan. However, Standard Chartered may encourage you to start a banking relationship with it which will help you to enjoy a host of value-added services.

Am I eligible for special interest rates, if I have an account with Standard Chartered?

Yes, you will get special interest rates if you are an existing customer of Standard Chartered. Your application will be processed on priority with nominal documentation.

Does Standard Chartered charge any processing fee on its personal loans?

No. Standard Chartered charges no processing fee for personal loans.

How do I contact customer care for more details?

Standard Chartered offers 24/7 customer care service to address your loan related queries. You can call them anytime and get your queries resolved. Also, you can visit BankBazaar and avail the services of our customer-friendly helpdesk, which will answer all your queries and resolve all your problems.

Does Standard Chartered charge any prepayment fees?

Yes, you can pre-close your personal loan by paying a pre-closure charge of 5%. You can pre-close your loan at any time after completion of 12 EMIs. However, you have to give a 21 day notice to the bank.

How can I apply for a Standard Chartered personal loan?

Applying for a personal loan from Standard Chartered can be done through the following methods:

Calling the Standard Chartered phone banking number

Writing in with a request to the bank’s customer care centre

By visiting the nearest Standard Chartered branch

How much can I avail if I apply for a Standard Chartered personal loan?

Customers can apply for personal loans ranging from a minimum of Rs 1 lakh to a maximum of Rs 30 lakhs. However, this is subject to the customer’s eligibility, his or her income, the customer’s capacity to repay the loan.

What is the interest rate offered by Standard Chartered for personal loans?

What is the tenure of a Standard Chartered personal loan?

In general, Standard Chartered offers personal loans with a loan repayment period of 12 months to 60 months. However, this could be increased for customers with a select profile.

What are the additional charges that I could incur if I avail of a Standard Chartered personal loan?

The bank charges a standard processing fee of 3% of the loan amount, which is to be paid at the commencement of the loan. Documentation charges are also applicable during this time, and both these fees and charges are deductible from the amount of the loan at the time of disbursal.

How quickly can I expect my personal loan to get approval?

Once the bank receives the required documents from your end your loan is likely to be rolled out within 4 - 7 business days.

Do I have to provide any security, collateral or guarantors in order to apply for a Standard Chartered personal loan?

No. No security, collateral or guarantors are required to be presented while applying for a Standard Chartered personal loan.

What are the documents required to apply for a personal loan from Standard Chartered?

It is mandatory that the following documents are presented to apply for a Standard Chartered Personal loan:

Can I use my personal loan to make investments?

No. The personal loan must only be used for the purpose you have mentioned in the loan application. The loan amount cannot be used for the purpose of investment.

What are the repayment options available to me?

You can make repayments towards the loan through a variety of options such as ECS, PDCs or Account Debit.

How will Standard Chartered disburse the loan to me?

Standard Chartered will disburse the loan to the customer in any of the following ways:

By depositing the loan amount in the nominated account

The loan amount may be disbursed by cheque should you request it. However, the cheque may only be valid for the period specified by the bank. In the event the cheque is not cashed, instalments towards the loan are still payable by the customer

Is top-up facility available on this personal loan?

Yes. Standard Chartered allows for top-ups on its personal loans

What are EMIs?

EMIs stand for Equated Monthly Instalments, which are made up of both principal as well as interest components

How can I calculate my EMIs I have to pay on my personal loan?

You can visit the Standard Chartered official website and use the EMI calculator to ascertain the EMIs you will have to make to repay your loan.

Can I make repayments via post-dated cheques?

Repayment by post-dated cheques is possible provided the following conditions are met:

You must provide the bank with post-dated cheques in the bank’s favour for an amount equal to each instalment amount

The cheques must be replaced by you should the bank request you to do so

What happens if I am unable to make the repayments?

If you are unable to make payments towards your instalments on or before the relevant due date then:

The loan plus all accrued but unpaid interest plus any other sum due to the bank is immediately due and payable

The bank will charge you a fee as set out in the tariff sheet or elsewhere in the banking agreement

Is pre-payment facility available on Standard Chartered personal loans?

You may pay out the loan before it reaches maturity under the following conditions:

12 months have lapsed after drawdown of the loan

The bank is notified in advance in writing

You prepay 21 banking days after submitting the written notice

Prepayment is made in accordance with an early prepayment quote given by the bank

When making prepayment, all accrued by unpaid interest, fees and charges in connection with the loan will also have to be paid

If prepayment is made by cheque, the prepayment takes effect only when the cheque is cleared.

What if I decide to cancel the loan?

The loan may be cancelled as per your discretion provided you notify the bank with an advance notice in writing. However, Standard Chartered reserves the right to charge you a cancellation fee.

What are the additional services I can avail of if I apply for a personal loan through Standard Chartered?

There are a number of additional services that may be offered to you such as:

Balance transfer programmes

Funds transfer programmes

Any other services available throughout the year

Please note that signing up or option for any additional services is dependent on your acceptance of the terms and conditions tied to these additional services.

Is it possible to make repayments through an account with another bank?

Yes. Repayments towards the loan can be made through an account with another bank provided the following conditions are met:

You will be required to ensure a payment arrangement with the other bank is made wherein the exact instalment amount is transferred to your personal loan account on the relevant date. Proof will also have to be provided to the bank that such transactions are taking place

You will be required to provide Standard Chartered with the authority to debit the repayment amount from the account you hold with the other bank

Should the bank so request, one or more signed undated cheques will have to be provided in the favour of Standard Chartered with no amount entered, to be drawn as per the discretion of the bank

Standard Chartered Bank Personal Loan Status

Have you been thinking about what happened to your Standard Chartered Bank personal loan application? You can stop wondering and find out instantly. You can simply go to the official website of the bank and enter vital details regarding your loan to track the status of your loan. You can monitor the status of your personal loan application through a reference number or without a reference number. While entering your loan application reference number, you will have to enter the ‘#’ symbol. You will also be required to key in your mobile number. For tracking without a reference number, enter your registered email ID and mobile number.

Standard Chartered Personal Loan Customer Care Number

Do you have any doubt about your personal loan borrowed from the international bank, Standard Chartered Bank? You can call the bank’s customer care helpline number and get answers to all your questions. The bank has exclusive customer care numbers for different cities. You may also send an email to the bank with full details about your query or complaint. You may also send an SMS to the bank that offers 24-hour customer care to its personal loan customers and customers of other products. In case you are not happy with the bank’s solution, you can get in touch with the bank’s Principal Nodal Officer.

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Standard Chartered Bank Personal Loan Reviews

I had taken a Personal loan from Standard Charted Bank a while back and the process in getting this loan was quite simple. The loan amount has been fine and the interest rate has been nominal. There has been some processing charges around 500 as well.

Standard Chartered Bank has given me a expected Loan amount based on my credit card . Different processing fees has been charges and major drawback is the higher interest rate even for shorter terms . Criteria wise loan can be taken within our comfort zone .

I have applied for the home loan with the STANDARD CHARTERED BANK where the banking process is good and it is good with smooth process to get the loan. The rate of interest given was lower than others. The customer service is good and responsive.

I have taken the personal loan with the STANDARD CHARTERED BANK where the loan has the satisfactory loan amount also the rate of interest was nominal when compared to the others. The service is good also the documentation process was good.

Since I am holding savings account i got an offer from banker to apply for a personal loan. They provided a loan for 5Lakhs for the duration of 3 years. As per my expectation i got an loan amount. The rate of interest is nominal. The processing fee was good. At an initial process was smooth. On time the loan got disbursed.

My personal account was taken with STANDARD CHARTED BANK , customer service is up to the mark they follow up so nicely through out the process . They charge nominal rate of interest but and even nominal processing fee . The tenure period is fine . I am really happy with services .

I had taken my personal loan from STRANDARD CHARTED BANK a while back and the experience was pretty good. The interest rate with them was nominal and the charges which they had made was nominal. During the process in getting the loan their customer support team was quite helpful as well.

I had taken a Personal loan from STANDARD CHARTED BANK a while back and the experience had been really good. It did not took much time and the interest rate with them has been nominal when compared with the market rate. Their customer support team had also been shown a good response where they had been helpful at times.

I had taken a Personal loan from STANDARD CHARTED BANK a long time back and the experience has been quite good. There was no foreclosure charges with them and the charges with them had been nominal, they customer support team of them had also been quite helpful.

I have taken a personal loan from Standard Chartered Bank. The customer support is good and there are no hassles in the process. I got the loan on time and there was no hidden charges. The rate of interest was nominal and the interest rate was also waived off.

I took one personal loan from standard charted bank last one years back , and tenure is 2 years , rate of interest is high , and loan amount is 85K ,EMI amount is 5k approx , and their customer service is good and response is also good , I am happy with this loan ,

I had taken this loan a while back and the experience had been excellent, it took almost five days. The interest rate with them was just 12.50% and they where very much professional. The charges with them had also been nominal. As the Bank names says the banking services has been very much Standard.

I had applied for a personal loan with STANDARD CHARTERED BANK .I hold a salary account with this bank. They are good in service and the customer service response is good. They gave me foreclosure option i can applied after 1 year . So far the service provided by them was very good.

I am the salary account holder in Standard Chartered bank .Based on that , I got my personal loan in short span of time . Where as interest rate is also comparative comparing with other bank . No difficulties in getting the loan and most trusted bank

I had previously holding Standard chartered bank credit card previously,now i have done balance transfer to other bank,the loan amount they have given me was sufficient,and the rate of interest they have charged me was nominal,but their service was not up to the bank.

My personal loan was taken with STANDARD CHARTED BANK . The customer support was also very good. It has been a hassle free personal loan experience with the this Bank. The tenure period is 5 year . They offered rate of interest at a nominal rate. The loan was sanctioned and disbursed with in few days.

I took a personal loan from the STANDARD CHARTED bank. It was good, application process was smooth an hassle free.1 I got the loan amount with in a week. Their customer support reposes are also very good. I use to pay my EMI on monthly basis . Loan amount is satisfactory .

I had taken this loan a pretty while back and the experience was quite good. The process did not took much time and the loan amount which they had provided was sufficient as well. The processing fee and charges has been nominal and their customer support team was also quite helpful as well.

I just provided my documents to the Standard Chartered executive they themselves done the personal loan process and so fast on the disbursement part. The interest rate is lesser around 10.99% based on my corporate company, I got zero processing fee from Indusind bank.

I had been holding my personal loan with Standard chartered bank previously, now i have closed this loan,the loan amount which they have given me was good, and the rate of interest they have charged me was nominal,and even the processing fee which they have charged me was nominal,now i have closed this loan successfully.